Not downplaying it at all. I'm a realist. If you want good visuals, you gotta pay for it somehow. I think you guys are expecting miracles from ND -- which can clearly lead to big disappointment. ND doesn't have any edge over pushing the hardware any more than say Crytek, DICE or Sucker Punch. They are a great team that has come up with excellent single player games. They also have an extremely talented art team that knows how materials, light and shadow work. That's a big advantage.. but other companies have the same.
TLOU was an incredible experience for me. The tech was clearly last gen, but the art made it still hold up this generation. I expect more of that for UC4.